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Mortgage Market Update
My Mortgage Company
Financial Mortgage Corp
Tuesday, November 3, 2026
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Does refinancing make sense for you right now? |
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Some weeks bring new rates, new life changes, or just new questions about your mortgage. This week, let's talk about one of the biggest decisions homeowners face.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Refinancing Reality
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop or your situation changes. The math has to work: you need to factor in closing costs, how long you plan to stay in your home, and what you'd save on your payment or total interest. Sometimes a refinance pays for itself in a few years; other times you'd break even just as you're ready to move. The best time to explore it is when you're genuinely curious about your options, not when you're desperate for relief. That's when clear decisions happen. I'm happy to walk through the numbers with you—no pressure, just honest talk about whether it makes sense for your situation. Let me know if you'd like to discuss whether refinancing could work for you.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Financial Mortgage Corp
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